Altone Park Shopping Centre
Altone Park Shopping Centre is located in an inner suburb 15km north-east of Perth CBD. The centre underwent a major asset enhancement and refurbishment programme, which was completed in the fourth quarter of 2020. The upgraded retail centre is anchored by two supermarkets – a full-line Woolworths and a new ALDI – and complemented by 25 specialty retailers, as well as a free-standing Tavern and McDonalds on pad sites. The completion of these AEI works realizes the value-add strategy of the fund, improves the WALE to 8 years from 2.6 previously and substantially increases rental income and valuation.
|Property||Neighbourhood shopping centre|
|NLA||8,116sqm, 418 car parks|
|Location||161 Altone Road, Beechbo, WA, Australia|
|Strategy||Value Add managed to Core|